https://www.taxtmi.com/news?id=20244 Draft amendments revise GST definitions, clarify supply classification and Schedules, permit notification-based reverse-charge classes, raise and relax composition eligibility, correct invoice cross references for time of supply, and enable consolidated credit/debit notes. ITC rules are clarified and broadened (including deeming receipt of services, specified vehicle-related credits, and Schedule III transactions), with changes to credit distribution and utilisation order. Returns procedures introduce amendment returns and a new supplier/recipient invoice verification mechanism with joint liabilities and recovery thresholds. Registration, refunds, appeals, recovery and transitional provisions are adjusted for procedural relief, clarity, and alignment with portal and RBI practices. en-us Mon, 09 Jul 2018 18:47:03 +0530 Tue, 10 Jul 2018 17:56:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/news?id=20244 Draft amendments revise GST definitions, clarify supply classification and Schedules, permit notification-based reverse-charge classes, raise and relax composition eligibility, correct invoice cross references for time of supply, and enable consolidated credit/debit notes. ITC rules are clarified and broadened (including deeming receipt of services, specified vehicle-related credits, and Schedule III transactions), with changes to credit distribution and utilisation order. Returns procedures introduce amendment returns and a new supplier/recipient invoice verification mechanism with joint liabilities and recovery thresholds. Registration, refunds, appeals, recovery and transitional provisions are adjusted for procedural relief, clarity, and alignment with portal and RBI practices. News - Mon, 09 Jul 2018 18:47:03 +0530 https://www.taxtmi.com/news?id=20244